This week we've elected to share the five key concepts of our newest eBook, Relentless Execution! These are the major concepts all 'executors' should be cognizant of in order to find success!
1. Execution Trumps Knowledge
You hear this all the time— knowledge is power. Recently, I was just at graduation and heard it there. But I'm here to tell you that knowledge is not power. It is potential power. The only real power is execution. Execution trumps knowledge every day of the week. The question is, how do you get yourself and your teams to execute? We see this play out around us all the time in life. Here's a great example: As business owners, we all know that having an online presence—with a website and social media—is vital to business survival, yet how many business owners fail to invest the time in marketing and social media? Think of it this way: If you don't execute, you die.
"Success doesn't necessarily come from breakthrough innovation, but from flawless execution. A great strategy alone won't win a game or a battle. The win comes from basic blocking and tackling." — Nevine Jane.
2. Know Thyself
You have to know your strengths and weaknesses, and own them! Man's got to know his limitations. There are some great tools out there that show you who you are—if you don't already know. Seeing it in print or on paper helps solidify those notions of self in our minds. At Mastery, we use Culture Index. The Culture Index aims to improve executives' performance in scaling and exiting their business. Let's take a quick look at how I use this tool.
3. Right People, Right Seats
It's important to get the right people in the right seats on the bus, get the right people on the bus and then make sure they're in the right seats. If you need a refresher on that, go back and read Jim Collins' Good to Great—a fantastic book about creating the perfect team.
4. Don't Be The Smartest Person In The Room
Great leaders hire people who challenge them. If you're calling all the shots, chances are you're headed in the wrong direction—and you should expect some obstacles—because great leaders hire people who challenge them. Throughout my professional career, I've thought, "I want to wake up every morning and realize that I am the dumbest guy in the room." Because if I'm the dumbest guy in the room, I've surrounded myself with brilliant people—and we're going to make very good decisions. The oxymoron of that is, if I have hired people smarter than me, it makes me the smartest guy in the room, right?
5. Culture Eats Strategy For Breakfast
Culture plays a vital role in relentless execution. Peter Drucker said this quote, and I have seen it play out in my many companies every time - Culture eats strategy for breakfast. The culture of your business will tell you everything you need to know about the ability to execute. Drucker is pointing out the importance of the human factor in any company. No matter how great your strategy is, your projects will fail if the people implementing them don't embrace your culture. Consistency in that culture is where the compounding effect happens. People frequently ask me to define culture…a friend once said culture is how people act even when the boss isn't there…
If you want to check out the rest of Relentless Execution, you can find it here!
ABOUT TOM BRONSON
Tom is the founder and President of Mastery Partners, a company that helps business owners maximize business value, design exit strategy, and transition their business on their terms. Mastery utilizes proven techniques and strategies that dramatically improve business value that has been developed during Tom’s career 100 business transactions as either a business buyer or seller. As a business owner himself, he has been in your situation a hundred times, and he knows what it takes to craft the right strategy. Bronson is passionate about helping business owners and has the experience to do it. Tom has authored, “Maximize Business Value, Begin With the Exit in Mind,” his book on the importance of exit strategy as good business strategy. Tom’s passion is to equip and educate business owners so they can be in the 17% of business owners who successfully exit their businesses. Check out our resources to help you maximize business value - our website, our blogs, our YouTube channel , our podcast and our MasterYclass.
Mastery Partners, where our mission is to equip business owners to Maximize Business Value so they can transition their business on their terms. Our mission was born from the lessons we’ve learned from over 100 business transactions, which fuels our desire to share our experiences and wisdom so you can succeed.